When will the contract extension expire for Disney Employees?

[Disney Bobby]

And that is never happening.

Truer words have never been posted. Their sole purpose is to make money for investors. Not give it away to overpay ice cream guy.

 

[mom2rtk]

Truer words have never been posted. Their sole purpose is to make money for investors. Not give it away to overpay ice cream guy.

They will pay more if they have to. But it's not coming out of profits. They will just raise prices even more.

 

[ERED]

Keeping "a bit less" won't do it, and even that would impact stock price and investor savings.

Pick your poison. Can't have it all.

A bit less relative to the company's overall take would certainly have a huge impact on CMs. As a shareholder myself, I, while in the minority, would be fine with lower profits in the short term for greater strength long-term.

 

[New Mouse]

A bit less relative to the company's overall take would certainly have a huge impact on CMs. As a shareholder myself, I, while in the minority, would be fine with lower profits in the short term for greater strength long-term.

It's actually in the best interest of stockholders. The stock market was never meant to be a get rich quick ponzi scheme, which is what it is now. Unfortunately part of society doesn't value the long term stability of companies. Also with so much of an executives salary based on stock, there is no incentive for them to stabilize.

 

[Disney Bobby]

A bit less relative to the company's overall take would certainly have a huge impact on CMs. As a shareholder myself, I, while in the minority, would be fine with lower profits in the short term for greater strength long-term.

Disney did offer "a bit". Almost 10% raise immediately, including retroactive pay, and $1 a year raise taking most to $20 a year by 2026.

They voted against it.

 

[Disney Bobby]

It's actually in the best interest of stockholders. The stock market was never meant to be a get rich quick ponzi scheme, which is what it is now. Unfortunately part of society doesn't value the long term stability of companies. Also with so much of an executives salary based on stock, there is no incentive for them to stabilize.

Huge increases in unskilled labor costs is not in the best interest of stockholders. Which is why Disney leadership is pushing back. The stock market is the stock market. Don't bring the returns, and the money goes elsewhere.

 

[Disney Bobby]

They will pay more if they have to. But it's not coming out of profits. They will just raise prices even more.

And cut service. And trim more employees while expecting the remaining employees do more. And automate.

I think the price increase option is very limited. They are already seeing pushback from customers on prices. If anything, I see discounts in the near future.

 

[DLgal]

Disney did offer "a bit". Almost 10% raise immediately, including retroactive pay, and $1 a year raise taking most to $20 a year by 2026.

They voted against it.

That is a terrible offer. Locking cast members into several years of diminishing raises (when taken as a percentage of the hourly rate) is laughable.

 

[New Mouse]

That is a terrible offer. Locking cast members into several years of diminishing raises (when taken as a percentage of the hourly rate) is laughable.

I remember when I worked for Disney back in the day and they offered me a nickel an hour raise. .05. Because I was "at the top of the pay scale" I told my manager if they were that hard up they could keep it.

 

[Obi-J Kenobi]

The Disney parks make so much revenue for TWDC, and yet, it doesn't seem like TWDC wants to invest in the staff and upkeep/maintenance and improvements to the parks to make even more money. As Jason Bateman once said, "It's a bold strategy, Cotton, let's see if it pays off."

I would just like to point out that this isn't Bob Chapek's fault, but I'm his unofficial apologist. So, take it for what its worth.

 

[OKW Lover]

it doesn't seem like TWDC wants to invest in the staff and upkeep/maintenance and improvements to the parks t

Sorry, but visiting the parks regularly I see lots of upkeep & maintenance going on. I also see new attractions being built.

 

[Disney Bobby]

Sorry, but visiting the parks regularly I see lots of upkeep & maintenance going on. I also see new attractions being built.

No kidding. Spending money in the parks like drunken sailors.

 

[Disney Bobby]

That is a terrible offer. Locking cast members into several years of diminishing raises (when taken as a percentage of the hourly rate) is laughable.

No, it's not. Most are unskilled, theme park jobs. Those aren't career progression type jobs. They do and should max out in what they pay. Do you honestly think that if someone hangs around for 35 or 40 years, that they should get automatically get raises every year and end up getting paid $50 or $60 an hour to push a button on a ride?

 

[AvidDisReader]

Do you also believe stores across America are adjusting hours, leaving stores a mess and giving up profits because they just don't feel like filling the positions?

The labor market changed during covid and the little guy wised up. The wealth needs to be reversed from the upper execs downward and the problem will solve itself. Plenty of CEO wannabes out there, so the demand is less and hence pay should be less.

We lost over a million people from the workforce due to deaths and retirement. Those people are not coming back basically ever. I agree with your point that Disney has been trying to get more lean, but not provding world class service will cause them to have to reduce prices as well.

Your message gets lost with the language you use. The little guy did not wise up, a simple labor supply dried up that caused a greater demand for labor. The market place is working as with a greater demand came higher wages. As for CEO wages going down, that just is not true, latest stats show the discrepancy between CEO and labor is greater than ever. You stated over a million left the workforce, try greater than 10 million--that is why there is such a labor shortage.

 

[AvidDisReader]

And cut service. And trim more employees while expecting the remaining employees do more. And automate.

I think the price increase option is very limited. They are already seeing pushback from customers on prices. If anything, I see discounts in the near future.

Here is something that is probably coming sooner than we all expect. Instead of paying a person at the Ice Cream cart to sell Ice Cream bars and soda, there will be vending machines. Lot cheaper to operate than paying someone $20 and hour. Also, probably a lot more efficient with less miscounting change or giving away free product by accident.

 

[RamblinWreck]

They will pay more if they have to. But it's not coming out of profits. They will just raise prices even more.

If they could just raise prices even more and have people continue to pay them, they'd already be doing it.

 

[DLgal]

Here is something that is probably coming sooner than we all expect. Instead of paying a person at the Ice Cream cart to sell Ice Cream bars and soda, there will be vending machines. Lot cheaper to operate than paying someone $20 and hour. Also, probably a lot more efficient with less miscounting change or giving away free product by accident.

I'm fairly surprised they haven't gotten rid of the carts yet and just started selling the concessions via Mobile Order at the various counter service locations.

 

[DLgal]

No, it's not. Most are unskilled, theme park jobs. Those aren't career progression type jobs. They do and should max out in what they pay. Do you honestly think that if someone hangs around for 35 or 40 years, that they should get automatically get raises every year and end up getting paid $50 or $60 an hour to push a button on a ride?

In 40 years, a job paying $18/hr today SHOULD be paying $48/hour, based on an inflation value of 2.5%. Given the rise in inflation we've seen in the last few years, $60/hr sounds about right in 2063.

 

[AvidDisReader]

In 40 years, a job paying $18/hr today SHOULD be paying $48/hour, based on an inflation value of 2.5%. Given the rise in inflation we've seen in the last few years, $60/hr sounds about right in 2063.

But you are assuming the labor shortage will continue. I simple change to our immigration policy could bring in millions of "unskilled" laborers. This will change the dynamics and put a big break to rising wages. Some day look up how Eisner recruited labor from Brownsville, Texas for jobs in the new Animal Kingdom (the promise of jobs came with the implied consent that the new employees voted down the at the time an attempt to unionize). This was a real dark part of the history of Mr. Eisner.

 

[OKW Lover]

Some day look up how Eisner recruited labor from Brownsville, Texas for jobs in the new Animal Kingdom (the promise of jobs came with the implied consent that the new employees voted down the at the time an attempt to unionize). This was a real dark part of the history of Mr. Eisner.

I'd like to see that. Can you give me a link?